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Business Law Podcast

Activists Rights Plans – Use with Care

Frank M Placenti

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In this episode,  Frank Placenti, chair of the Business Law Section’s Corporate Governance Committee, discusses activists rights plans with Greg Varallo, partner at Bernstein Litowitz Berger & Grossmann LLP (BLB&G). The podcast leads off with an analysis and discussion of the The Williams Companies, Inc. v. Wolosky case, in which the Delaware Supreme Court affirmed the Delaware Chancery Court’s ruling, in favor of stockholders, that the board of The Williams Companies failed to demonstrate that its adoption of a so-called “poison pill” was a reasonable response to a specific stockholder activist threat.